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Finance

They Should've Passed The First Proposal

Vince Farrell | Posted 05.25.2011 | Business
Vince Farrell

Our elected representatives said they needed more time to consider such sweeping and important legislation. What they wanted was time to dress the bill up with bells and whistles.

Main Street and Wall Street -- We're in This Together

Tom Donohue | Posted 05.25.2011 | Business
Tom Donohue

The defeat of the financial rescue plan in the House of Representatives on Monday dealt a needless blow to an already faltering economy. Investors lost $1.2 trillion in wealth.

Futures pull back after Senate bailout plan vote

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — Financial markets reacted cautiously to the Senate's passage of the banking bailout plan late Wednesday, with stock index futures fal...

Senate Passes Bailout Bill

Huffington Post | Dave Burdick and Nicholas Graham | Posted 05.25.2011 | Business

***UPDATE*** 12:41AM 10/2 Bipartisanship: The Senate's bailout vote margin stood in stark contrast to the House's: In stark contrast to the House re...

Like A Clearance Sale: What Does Wall Street Think Of The Failout?

Wallstrip | Posted 05.25.2011 | Business

Wallstrip's Julie Alexandria hit the street to see what people in New York think of the bailout plan -- and its failure in the House of Representative...

Auto Sales Falling Sharply

New York Times | Nick Bunkley | Posted 05.25.2011 | Business

DETROIT -- September was another difficult month for carmakers. Toyota, the Ford Motor Company and Chrysler each said Wednesday that their sales in t...

Hank Paulson Needs A Sales Lesson

Vince Farrell | Posted 05.25.2011 | Business
Vince Farrell

Hank Paulson needs to go to some kind of sales seminar to learn how to sell a program and not try to ram it down people's throats.

Towns Hit By Crisis: Connecticut, New Jersey And The Manhattan Ripple

BusinessWeek | Prashant Gopal | Posted 05.25.2011 | Business

How many former Lehman Brothers bankers or AIG (AIG) executives are likely to be buying a Park Avenue apartment or a home in Darien, Conn., this year?...

Senate to vote on rescue plan with added tax cut

AP | CHARLES BABINGTON and ANDREW TAYLOR | Posted 05.25.2011 | Business

WASHINGTON — In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday n...

Can Alec Baldwin Fix The Economy? (No.)

Dave Burdick | Posted 05.25.2011 | Business
Dave Burdick

Sometime last week my friend, Noah Garfinkel, said he just wished that Alec Baldwin would be on CNBC in character talking about the economy because it...

Measuring The Crisis: Look Past Stocks

BusinessWeek | Ben Levisohn | Posted 05.25.2011 | Business

With the financial system bailout plan derailed by the House of Representatives on Sept. 29, the resulting plunge in equities made headlines around t...

Apple Led Monday's Tech Tumble

BusinessWeek | Arik Hesseldahl | Posted 05.25.2011 | Business

While much attention on Sept. 29 was fixed on the failed bailout vote in Congress and its impact on the Dow Jones industrial average, tech stocks also...

Moscow Super-Rich Pour Millions Into Luxury Homes

Reuters | Posted 05.25.2011 | Business

MOSCOW (Reuters) - The world outside may be in the thralls of crisis, with house prices plunging, markets slumping and banks collapsing; but Russia's ...

Global stocks volatile on bailout rejection

AP | EMILY FLYNN VENCAT | Posted 05.25.2011 | Business

LONDON — Volatile world stock markets showed mixed reactions Tuesday to U.S. lawmakers' rejection of a $700 billion economic rescue plan, with g...

Yale Professor Argues For Global Monetary Authority

Economix | Catherine Rampell | Posted 05.25.2011 | Business

Jeffrey E. Garten, a professor at the Yale School of Management, had a piece in The Financial Times last week arguing for the need for a Global Moneta...

Dow plummets record 777 as financial rescue fails

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff _ including a t...

Apple Plunges After Downgrades

Silicon Alley Insider | Dan Frommer | Posted 05.25.2011 | Business

Apple (AAPL) shares are down 14% to around $110 -- their lowest since May, 2007 -- after Morgan Stanley and RBC both downgraded the stock this morning...

Fed Pumps Further $630 Billion Into Financial System

Bloomberg | Scott Lanman and Craig Torres | Posted 05.25.2011 | Business

Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to allevi...

High-End Stripper Index Suggests Power Shift To Washington, DC

Washington Post | Posted 05.25.2011 | Business

There has been some responsible reportage on the plight of New York-based strippers during the Wall Street crisis of late -- it seems that the high-en...

What's Next In The Wall Street Crisis With A Dead Deal?

Huffington Post | Dave Burdick | Posted 05.25.2011 | Business

Today, the House of Representatives denied the bailout deal negotiated by Treasury Secretary Henry Paulson, President George W. Bush and Congressional...

Hedge Funds Brace For Investors To Cash Out

New York Times | Louise Story | Posted 05.25.2011 | Business

First, the money rushed into hedge funds. Now, some fear, it could rush out. Even as Washington reached a tentative agreement on Sunday over what may...

Good Money After Bad

Neil Grossman | Posted 05.25.2011 | Business
Neil Grossman

There is one more cost our national financiers are not considering. In issuing this boatload of new debt, it in all likelihood will raise the cost of all the other debt we are now carrying.

House rejects $700B bailout in stunning defeat

AP | JULIE HIRSCHFELD DAVIS | Posted 05.25.2011 | Business

WASHINGTON — In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergenc...

You Really Believe We're the Priority?

Neil Grossman | Posted 05.25.2011 | Business
Neil Grossman

JPMorgan ends up with the good part of Wamu for a song -- the taxpayer ends up with "Toxic Waste." Seems to me like a great deal for the taxpayer.

Playboy Laying Off Bunnies Amid Financial Crisis

Daily Star | Katie Begley | Posted 05.25.2011 | Business

PLAYBOY boss Hugh Hefner is laying off some of his bunnies because of the credit crunch. The tycoon is reported to have been told to "strip back" loy...